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Property Settlement Agreement
What
is a Property Settlement Agreement?
It is a
legal binding written agreement between you and your spouse which
divides property and debts and settles issues such as spousal support.
It also covers your rights, responsibilities and obligations.
Is it important?
If you do not have any marital property or debts or children you
probably do not need a property settlement agreement. However, if
you do, having a property settlement agreement in writing is extra
protection against future problems or issues with your spouse.
Do I have
to file the Property Settlement Agreement with the court?
No. You do not need to file the Property Settlement
Agreement with the Court in order for the Agreement to be effective.
This is a contract between the parties. However, if the agreement
is violated by any party and you need continued enforcement, you
can seek damages by filing it with the Court.
What
is the difference between "marital property" and "non-marital
property"?
All
property acquired during the marriage is "marital property"
and all property owned before the marriage is "non-marital
property". Gifts or inheritances to either spouse during the
marriage is non-marital property.
What is the cost of a Property Settlement
Agreement?
If
you are doing a Nevada divorce it is included in the price. If you
are doing a fast, Guam divorce it is $50.00. We also take credit
cards for your convenience.
Do both parties need to sign the Agreement?
For the separate Property Agreement we do for the fast Guam
divorce both parties must sign the papers. If you are doing a Complaint
for Divorce in Nevada, the other party does not need to sign the
papers.
Is it filed with the papers in Guam?
Per our attorneys advice, we do not include property/debt or children
because of the difficulty of the court enforcing such items. However,
we can prepare it as a separate Property Settlement Agreement addressing
property and debt issues.
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